Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
Paul KrugmanWhen stock prices are rising, it's called ''momentum investing''; when they are falling, it's called ''panic.''
Paul KrugmanThe important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollution does real, measurable damage, especially to human health.
Paul KrugmanTax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
Paul Krugman